Pier Capital LLC Lowers Stock Holdings in MSA Safety Incorporporated $MSA

Pier Capital LLC cut its holdings in MSA Safety Incorporporated (NYSE:MSA) by 19.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 43,455 shares of the industrial products company’s stock after selling 10,739 shares during the period. Pier Capital LLC’s holdings in MSA Safety Incorporporated were worth $7,477,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. First Horizon Corp acquired a new stake in shares of MSA Safety Incorporporated during the third quarter worth $30,000. Penserra Capital Management LLC acquired a new position in MSA Safety Incorporporated in the second quarter valued at $33,000. EverSource Wealth Advisors LLC increased its stake in MSA Safety Incorporporated by 94.1% in the second quarter. EverSource Wealth Advisors LLC now owns 198 shares of the industrial products company’s stock valued at $33,000 after purchasing an additional 96 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its position in MSA Safety Incorporporated by 397.7% during the second quarter. Steward Partners Investment Advisory LLC now owns 219 shares of the industrial products company’s stock worth $37,000 after buying an additional 175 shares during the period. Finally, Picton Mahoney Asset Management purchased a new position in MSA Safety Incorporporated during the third quarter worth about $43,000. Hedge funds and other institutional investors own 92.51% of the company’s stock.

Insider Buying and Selling

In related news, CAO Jonathan D. Buck sold 1,100 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $203.48, for a total value of $223,828.00. Following the transaction, the chief accounting officer owned 3,234 shares in the company, valued at approximately $658,054.32. This trade represents a 25.38% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.70% of the company’s stock.

MSA Safety Incorporporated Price Performance

MSA stock opened at $179.40 on Friday. The company has a market cap of $6.96 billion, a PE ratio of 25.34 and a beta of 0.96. The company has a current ratio of 3.01, a quick ratio of 1.82 and a debt-to-equity ratio of 0.42. The stock has a 50-day moving average price of $186.19 and a two-hundred day moving average price of $172.35. MSA Safety Incorporporated has a 12-month low of $127.86 and a 12-month high of $208.92.

MSA Safety Incorporporated (NYSE:MSA) last released its quarterly earnings data on Wednesday, February 11th. The industrial products company reported $2.38 EPS for the quarter, topping analysts’ consensus estimates of $2.26 by $0.12. The company had revenue of $510.91 million for the quarter, compared to the consensus estimate of $508.62 million. MSA Safety Incorporporated had a return on equity of 24.48% and a net margin of 14.88%.The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business posted $2.25 EPS. As a group, research analysts predict that MSA Safety Incorporporated will post 8.06 EPS for the current year.

MSA Safety Incorporporated announced that its board has initiated a stock repurchase program on Thursday, February 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the industrial products company to reacquire up to 6.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

MSA Safety Incorporporated Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Friday, February 13th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Friday, February 13th. MSA Safety Incorporporated’s dividend payout ratio is 29.94%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Weiss Ratings raised MSA Safety Incorporporated from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, January 26th. JPMorgan Chase & Co. began coverage on shares of MSA Safety Incorporporated in a report on Tuesday, February 3rd. They set a “neutral” rating and a $200.00 price objective on the stock. B. Riley Financial reissued a “buy” rating on shares of MSA Safety Incorporporated in a research report on Thursday, February 12th. Wall Street Zen downgraded shares of MSA Safety Incorporporated from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, DA Davidson upped their price target on shares of MSA Safety Incorporporated from $186.00 to $235.00 and gave the stock a “buy” rating in a research report on Wednesday, February 18th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, MSA Safety Incorporporated currently has a consensus rating of “Moderate Buy” and an average target price of $202.17.

About MSA Safety Incorporporated

MSA Safety Incorporated develops, manufactures and supplies a wide range of safety products designed to protect workers in hazardous environments. The company’s offerings span personal protective equipment such as industrial helmets, face shields, protective clothing and fall protection devices, as well as fixed and portable gas detection and monitoring systems. MSA’s products are used in industries including oil and gas, mining, construction, fire service, and chemical processing to guard against risks such as gas leaks, impacts, flame exposure and falls from height.

Key product lines include self-contained breathing apparatus (SCBA) and air-purifying respirators, gas detectors and sensors, head and face protection, and fall arrest systems.